Ethereum’s Evolution and Challenges: Insights from EthCC Event
Ethereum Co-Founders Discuss Usability and Technical Improvements at EthCC Event in Brussels
Ethereum, the popular blockchain platform, has come a long way since its inception in 2014. However, as it enters its second decade, challenges around usability and technical improvements still remain. This was a focal point of discussion as Ethereum co-founders Vitalik Buterin and Joseph Lubin gathered with the ecosystem in Brussels for a week-long program of events centered around EthCC.
One of the key highlights of the event was the discussion around Ethereum’s scalability and affordability. The shift to proof-of-stake consensus and the adoption of a layer-2 centric approach to scaling the network have brought significant performance and cost reductions to end-users. Lubin, speaking at a side event hosted by Consensys’ Ethereum zkEVM Linea, emphasized the importance of zero-knowledge proof-powered layer 2s (L2s) in Ethereum’s development.
According to Lubin, ZK-rollups have proven to be the key technological approach for bringing high-speed, low-cost functionality to the ecosystem. He also compared ZK-rollups to optimistic rollups, stating that optimistic approaches had limitations and that ZK technology is the way forward for Ethereum.
Buterin, in his keynote address at EthCC, addressed the challenges facing Ethereum as a base layer for its L2-centric approach. He highlighted concerns around solo staking, pooled staking, and censorship risks within the ecosystem. Buterin proposed increasing the quorum threshold to combat network attacks or censorship, emphasizing the importance of protocol simplification and the unique strengths of Ethereum as a base layer.
Overall, the discussions at EthCC shed light on the progress and challenges facing Ethereum as it continues to evolve and improve its usability and technical capabilities. As the ecosystem looks towards mainstream acceptance and adoption, the focus remains on enhancing user experience and leveraging technological advancements to drive growth and innovation in the space.
